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20121211
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Search Results 0 to 49 of about 84 (some duplicates have been removed)
PBS
Dec 10, 2012 6:30pm PST
medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details. >> tom: that and more tonight on nbr! >> susie: president obama was in michigan today, campaigning on his plan to avert the fiscal cliff. speaking to union workers at the daimler detroit diesel engine plant, the president said he is willing to compromise "a little bit" with republicans on getting a plan for economic growth, job creation, and reducing the deficit. but he said he would not compromise on raising tax rates for high-income earners. >> and that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks, and then we're asking students to pay higher student loans, or suddenly, a school doesn't have school books becau
CNBC
Dec 11, 2012 4:00pm EST
senate majority leader harry reid warned it will be tough to reach a deal to avoid the fiscal cliff before christmas. we all note deadline, december 31. take a look at how we're finishing the day. the dow jones industrial average up about 80 points today. it was higher, much higher than 100 points earlier today, up two-thirds of 1%. volume on the light side this afternoon. nasdaq composite picked it up. technology up better than 1%. s&p 500 also on the upswing. markets maintaining steady gains all day long. david kudlow and bob pisani and barbara from the street. welcome to all of you. what about coming off the best levels? >> hitting search-week highs. 13,245 is where we ended the night of election and waiting for it to settle out. 13,248, so we are exactly where we were when the elections closed. i think the important thing is as long as there is some indication that they are talking the markets are holding up very well. i think the concern is after a deal happens, i think we'll have it, what will happen after, that and a lot of people are worried now that austerity is coming. tha
CNBC
Dec 11, 2012 12:00pm EST
terranova, josh brown and steven weiss. lots to talk about. we'll start with the fiscal cliff and stock market. stoc stoc stocks paring their gains just a bit. amid reports in washington talks on the fiscal cliff have taken a positive turn. steve weis, market seems to be anticipating a deal. >> all we've done is ratchet up the now if there is no deal or it's an ugly looking deal we've got much more risk in the market. because the market is assuming that a deal will happen. it's assuming we won't go off the cliff. if you take what boehner just said, to me it's actually good news that the market didn't really respond. because it's negotiation as usual. boehner was really only talking about the cost cuts that he's looking for from obama. obama's just trying to negotiate. so i don't even know why he spoke today. maybe to throw some cold water on the notion or maybe throw hope. we don't know. the point is ignore the headlines. let's just -- just invest for longer term. >> josh, what do you make of the 100-point move we're seeing in the dow today? it is the fifth straight session that the dow has been higher. we haven't had a stretch like that since march. >> scott, bank of america merrill lynch is out with a report today. they look at fund flows. what they've seen is something remark
PBS
Dec 11, 2012 1:00am PST
house budget committee tells "nightly business report" he is optimistic about getting a fiscal cliff deal by the end of they year. maryland congressman chris van hollen talked with our darren gersh, and began with an update on the status of the talks. >> well, the good news is that the president and the speaker of the house are now in face-to-face discussions. it's always better to be talking than not. the other development is that increasingly congressional republicans recognize that the position that they had staked out is unsustainable. >> one of the arguments we hear from some democrats is that the fiscal cliff isn't really a cliff, it's more like a slope and you could gradually go down it and the withholding from tax wouldn't kick in for a while and the spending cuts wouldn't hurt the economy for a while. do you think it is good idea to go over the deliver and it is more of a slope. >> no, i think would be a mistake to go over the fiscal cliff because it could set in motion lots of things that could be a drag on the economy. that being said, i think if it's clear that the parties were w
MSNBC
Dec 11, 2012 7:00am PST
dangerous game, trying to negotiate a deal to avert the fiscal cliff and using public pressure to try and sway the outcome. exhibit a, the president rallied the crowd on monday in michigan to make the point he's looking to drive home. taxes have to go up on the rich. >> so when you put it all together what you need is a packet that keeps taxes where they are for middle class families. we make some tough spending cuts on things that we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> but here's exhibit b. republicans still have the majority in the house. and many conservatives say they have their own mandate in their districts to cut spending and stop the president from raising taxes. and that brings us to exhibit c republicans are determined to play the long game to win. >> the game you're playing is small ball. you're talking about raising rates on the top 2% that have run the government for 11 days. you just got re-elected. how about doing something big that's not liberal, how about doing something big that really is about partisan. every big id
MSNBC
Dec 11, 2012 12:00pm PST
a lot of worry and a lot of concern about what happens if we go over the fiscal cliff, curb, slope, whatever. maybe it's not optimal but it's way better than a bad deal and i think i can't see getting a serious deal done before the holidays. if you talk about all of the intricate things that wonks on both sides maybe could agree, i'm not sure i would agree to any of them, they're so complicated. senator durbin made this point. maybe you force changes on medicare or social security, i hope not but if you do, you can't do that in ten days or five business days or whatever it is. these things take a lot of time and so for the president to -- for democrats to agree to sort of kick the can, extend the tax cuts for another period of time is crazy. they hold all of the cards in this particular game and they should demand that republicans show their cards and make some concrete proposals. >> well, joan, speaking of democrats holding the cards, one of the things that people have been it on pointing out the leverage democrats have is debt ceiling and another hostage situation like we had in 2011 and the more i think about that, the more sort of preposterous is bec
FOX Business
Dec 11, 2012 3:00pm EST
appearance of some moves the fiscal cliff negotiations. what you see is what house speaker john boehner said he is hopeful a deal will be reached, but also added the g.o.p. wants the white house to provide details on spending cuts. but in the white house wants the same thing from the g.o.p. but either way that is good enough for the market. we took off and we stayed to the upside. so far neither side has been specific on spending cuts so coming up in just one hour o ony 4:00 p.m. eastern, former treasury secretary paul o'neill says he has easiest way to cut spending. fox business exclusive and in this our whole host of leaders in business talking about what specific they want to see. in terms of individual standouts. apple right now about 2% to the upside. some excitement over the iphone 5. how is this for a order in china. brenda marshall says china unicom has more than 300,000 people on the waiting list. nicole petallides with talk about this earlier, but that is enough to boost the stock. sales in china friday, can you imagine the lines? sec don't airlines is soaring. up nearly 6%. delta says they will buy 49% of
FOX Business
Dec 11, 2012 5:00pm EST
counteroffer on the fiscal cliff deal to president obama. let's go right to rich edson for more on this breaking story. rich? >> aides say this is an exchange of partial proposals to try to get the ball moving a little bit after some type of impasse over the last few days. this is basically an offer that the house republicans say they have just sent to the white house but there are still major difference ares here. this is from a boehner spokesperson saying the longer the white house slow-walks this process the closer our economy gets to the fiscal cliff. there is major business lobbyist out there telling us right now the discussions are focusing on process. how do to it. not necessarily substance. so there are no details on what these offers exactly state. they're not even really getting out on capitol hill right now. so we're still watching it to maintain. again you've got the exchange of partial offers at least coming out of the white house and from house republicans but they still remain fairly far apart. melissa: rich, you have been right in the heart of this story from the beginni
CNBC
Dec 11, 2012 3:00pm EST
our special coverage. stocks rallying on the on the missile that perhaps we are nearing a fiscal cliff deal. coming up we'll, find out from key lawmakers in the fiscal cliff negotiations how we can actually get a deal done before the deadline. representative chris van hollen, lynn jenkins and javier becerra as well as sore orrin hatch with us. we'll hear from former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour, really from the get-go. optimism about the cliff talks and senator harry reid made some comments this afternoon that put a damper on that real. we've lost about 30 points. in that time. up 74 on the dow at 13,244. the nasdaq is doing well today, up 32 points. more than a 1% gain, although it is off its highs of the day at 3019, and the s&p 500 index is 8 plus points at 1426. the word on the street is because of the fiscal cliff, some investors are actually selling the winners, the winning stocks, and they are holding on to the poor performers, the opposite what have they have been doing the last f
CNBC
Dec 11, 2012 9:00am EST
above gridlock and reaching a real deal on the fiscal cliff. in the last hour we sat down with grover norquist saying no one should strike a bad deal, and that there is no better reason to raise taxes now than there was in the past. he also added he thinks house speaker boehner has been a good leader during the fiscal cliff negotiations. and then we were joined by bob corker and bob conrad. corker said we need to focus more on entitlements now, and he will not sign any package that doesn't deal with entitlements at this point. conrad said more, not less, should be included in some sort of a big deal. by big deal, he means over $4 trillion. we are now just 20 days away from the fiscal cliff deadline. we continue to bring both sides of the aisle to sit down together. congressman sander levin is a ranking member of the house ways and means committee. and a republican from new jersey, the vice chairman of the house budget committee and a member of the house financial services committee. gentlemen, thank you both for being here. >> thank you. >> we just sat down with senators conrad and corker. they seem to agree on a lot of areas. one of th
CNBC
Dec 11, 2012 2:00pm EST
volume. find out what's going on with bob pisani. no fiscal cliff, markets don't care, vix doesn't care. >> up 5 1/2%. there's a lot of people, mandy, that think when we get the deal, that's what you take profits. fiscal cliff, that means awe sisterity. speaker of the house, john boehner said we're still negotiating. he specifically said where is the president on spending cuts, basically threw it back in their court. came off the highs. terms of sectors moving, nice move up in a bunch of groups. semiconductors back, texas instruments had comments, drug index doing well. merck and most of those other big names. sanofi up. delta acquiring a 49% stake in virgin atlantic from singapore, consolidation going on. booking trends have been strong or airlines as well. defense look at this, dfx, historic high. what sequestration worries out there. bottom line, everything on the upside. one sector i want to point out, dollar stores. dollar general came out with an outlook a little below estimates, look, down 7%. all the other ones a downside. they cited tough comps coming up and there are. a challenging environment and a challenging competitive environment. even the dollars stores in
PBS
Dec 11, 2012 12:00am PST
hurricane sandy. further progress will be tested as the fiscal cliff deadline approaches without a deal inside yet. i'm very pleased to have jeff immelt back on this program. welcome >> charlie, thanks, good to be back with you. >> rose: we've talked many times about g.e. since you took over, i think once since -- just after 2001. where is the company today in terms of where do you want it to be and where do you want it to be in the next five years? >> i think, charlie, what we've tried to do is simplify the portfolio into infrastructure and financial services. we like where the portfolio is today. we think in the infrastructure space there's going to be roughly $4 trillion spent each year, so it's an attractive big market. globally is where our opportunities are so the company's -- probably a decade ago 30% of our revenues were outside the united states. now it's more like 60% or 65%. so we think we've got the portfolio we want. we've dramatically increased the amount of technology. and in the end i think technology and innovation are the competitive advantage. we've got a good global footpri
CNN
Dec 10, 2012 11:00pm PST
hill and might be part of the fiscal cliff negotiation but a question of how much more money saved by things like making packages happen on saturdays but not necessarily all mail delivery. tough negotiation realtime. >> now another thing to the fiscal cliff deal? a deal i'm pretty sure is pretty bad whatever it is. not enough. >> but every little bit helps and here's the point. you know, the post office defaulted twice in the last couple of months, erin. august, defaulted $5.5 billion the first time. congress did nothing, fiddled. happened in september. overall last year, they lost $15.9 billion. something's got to be done. do they kick the can to the next year? >> thanks so much, john. >>> talking about default, they default and nobody cares. some day we'll care and going to hurt. >>> next, 22 days if the fiscal cliff and the president's taking the plan on the road but a guest says mr. obama, you are overplaying your hand. >>> and a radio prank blamed for a suicide. the two deejays behind the hoax speak out for the first time. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. ...so as you can see, geico's customer satis
PBS
Dec 10, 2012 6:00pm PST
public support for a fiscal cliff agreement. it came a day after he resumed talking with the top house republican, and as a year-end deadline moved even closer. the president took his public campaign for a deficit deal on his terms to the daimler diesel plant in redford michigan. >> if congress doesn't act soon meaning in the next few weeks, starting on january 1, everybody is going to see their income taxes go up. it's true. y'all don't like that? >> no! woodruff: instead, mr. obama again pressed for raising tax rates on the top two percent of incomes. >> and that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks and then we're asking students to pay higher student loans. >> woodruff: his michigan visit came a day after the president and house speaker john boehner met privately at the white house. their first one-on-one session since the election. neither side gave any details about what was discussed. instead they issued identical statements saying that lines of communication remain open. at the same time the sunday talk shows highlighted a partial split in g.o.p. ranks over letting the
CNN
Dec 10, 2012 4:00pm PST
mail delivery? it's a tough decision. >> and now you're adding something more to the fiscal cliff deal, a deal i'm pretty sure is going to be pretty bad. >> but every little bit helps. the post office defaulted twice in the last couple months, erin. august, defaulted $5.5 billion for the first time. congress did nothing. fiddled. now, same thing happened in september. overall last year, they lost $15.9 billion. something has got to be done. can they kick the can to next year or get a deal done before next year? >> sad, defaulting on billions of dollars and we all think nothing is going to happen. one day, america, something terrible is going to happen. out front next, 22 days away from the fiscal cliff, the president is taking his plan on the road. one of our guests says mr. obama is overplaying his hand. >>> and radio prank is blamed for a suicide. two deejays behind the host speak out for the first time. s out for the first time. o speak out for the first time. a speak out for the first time. x speak out for the first time. [ male announcer ] citi turns 200 this year. in that time there
CNBC
Dec 11, 2012 1:00pm EST
fiscal cliff deal be done in time? why don't you register your opinion. finance.cnbc. cast your vote. results will come up later on "power lunch." sue. >> we have a triple digit rally on the floor of the new york stock exchange with the dow jones industrial just off the highs of the trading session. we're up 109 points on the dow despite the gridlock in washington. nasdaq is up 41 points and s&p 500 is up 13 points. all three of those averages moving back above their 50-day moving average. first time we've seen that since october. trader from cnbc, and ceo of destination wealth management. ken y, i'm going to start with you. you were champing at the bit listening to the interview that was done in washington. why is this market up triple digits? is it up because they think there is a deal or isn't a deal? >> very interesting. i'm beginning to think the market is rallying because there is no deal, we're going over this cliff. let's not forget, it was a bipartisan committee that couldn't come to an agreement which created the situation we're in. that senator said one side jumping off th
FOX
Dec 10, 2012 6:00pm PST
fiscal cliff. john boehner says last week's offer stands and it doesn't include higher tax rates on the wealthy. the white house says there can't be a deal without the increase. >> people are disgusted at the notion of a fiscal cliff took their feelings to the streets today. [ singing ] >> 75 protesters rallied downtown at noon and the raging grannies sang. the demonstration was organized by the american dream counsel and moveon.org. they are asking the public to contact john boehner. >> we are focusing our rally on john boehner and asking him to pay attention to what is good for the country instead of protecting himself. >> the group says they will target any lawmaker who tries to cut a deal over the fiscal cliff. >>> thousands will pause saturday to remember those who lost their lives serving our country. [ bagpipes playing ] >> the kickoff was held today at the state capttle. -- capital. >> makes you quietly think that, one, you are glad to be an american, you have to say thank you to these individuals who gave their service to the country. >> 400,000 wreaths are expected to be placed this weekend. >>> vandals hit a radio station for a third
CNN
Dec 11, 2012 4:00am PST
. silence about the fiscal cliff. the president and the house speaker john boehner holding closed door meetings to work out a deal or try to. 21 days and counting away from tax hikes and spending cuts going into affect. and congress breaks for christmas on friday. here is where things stand. the president hitting the road to sell his tax plan to -- at a truck plant to workers in michigan. and there are fiscal cliff talks and on capitol hill for a single day, all was quiet. that's always bad news if you are a political reporter, shannon travis live in washington, d.c.. there are some people who say well, let's read into the silence, because that's all we're getting and it's good news. do you feel that way? >> could be potentially good news. there is this notion of not negotiating through the media. the stakes are high, puts pressure on both sides. so on? that sense, as much as we would love to know what's going on in these discussions, it might be good to take some of the pressure off. i will read a statement from house speaker john boehner's press secretary. discussions with the white house are taking place, but we
FOX News
Dec 11, 2012 8:00am PST
and other issues. but remember, he has to strike a fiscal cliff deal. that deal is likely to contain some things unions don't like. that is some of the politics going on right now. rick: bob cusack, managing editor of "the hill." thanks so much. >> thanks, rick. >> there are three elements to this. growth, reduction in spending, and raising of revenues. we have already voted for, we, democrats voted for over a trillion dollars in cuts and spending. that was part of the budget control act and that's part of how we should go forward. jenna: that was house minority leader nancy pelosi late last month,g democrats in congress support ad trillion dollars in federal spending cuts. with so much of the fight over that looming fiscal cliff focusing on tax rates we want to look at that claim, that claim specific to spending to see how it stands up with the facts. doug mckelway is live in washington with more on this story. >> reporter: good morning, jenna. the republicans claim democrats are solely focused on raising tax rates not spending cuts. democrats counter what we heard from nanc
ABC
Dec 10, 2012 5:00pm PST
rich pay more taxes. he wants a deal to avert so the called fiscal cliff. some of the supporters were holding rallies across the country today. this drew about 50 people or so. however, they don't want to give up cuts for social cuts. >> i think it's important to recognize we can put revenue on the table. there are areas we know where we can have some significant place autos several republicans joined democrats today to point to one area that will be targeted or should be, defense spending. today, 11 republicans called on the president to chop $550 billion from the defense budget. >> if the country goes over that fiscal cliff, california has an awful lot to loose. more than other states, in fact. >> washington is sounding like sacramento these days waiting until the last minute to reach a deal, a trigger cuts if one isn't reached. as washington waits to come up with a deficit reduction, it's becoming clear california has a lot at stake if the fiscal cliff isn't averted. the state could lose $4.5 billion in federal funds. the legislative analyst office estimates the budget may shrink b
CNN
Dec 11, 2012 11:00am PST
waiting for fiscal cliff deal. there's a health company that can help you stay that way. what's healthier than that? in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> want to return again to the budget talks in washington. the president is getting pressure from his left flank today, progressive democrats warning him not to make cuts to medicaid in the fiscal cliff negotiations. one expressed dismay today at the climate of secrecy surrounding the talks. listen if you would to senator jay rockefeller of west virginia. >> i get nervous when two people disappear into a white house room and start making a grand alliance and they think, well, we're going to do this to the rich and that to the poor, so we'll make that a trade-off. and like tom harkin says, that is unmoral. you cannot do it. >> so for n
CNBC
Dec 11, 2012 6:00am EST
they are doing their part to rise above partisan politics and reach a deal on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about this. jared, it seems like things have gotten quieter. do you think that's the case? is that a goo
MSNBC
Dec 11, 2012 11:00am PST
fiscal cliff. despite spine signs of a deal in sight, house speaker boehner accused the president of holding back when it comes to spending cuts. >> the longer white house slow walk this is process, the closer our economy gets to the fiscal cliff. we know that the president wants more stimulus spending and increase in the debt limit without any cuts or reforms. that's not fixing our problem. frankly, it's making it worse. >> let me bring in our "news nation" political panel this hour. chris cafinus, michael smerkonish and louies romanis. what are we to make of speaker boehner coming out today, not sure of the overall message other than he wanted to have, i guess, a sound bite to play today as we continue to talk and the president is off at least negotiating behind the scenes on the fiscal cliff. >> i think you called it, tamron. look, the rhetoric is scaled back dramatically in the last few days. they're talking and seriously evidenced by the fact we're not learning that much. they're keeping it pretty close to the vest. i think the speaker is under enormous pressure of his own caucu
MSNBC
Dec 11, 2012 2:00am PST
pressure on lawmakers as they try to hammer out a deal on the fiscal cliff before the holiday recess. >>> new details on a navy s.e.a.l. who died during a daring mission in afghanistan. >>> plus, a fireball over texas, and more dogs behind the wheel. good morning, even. i'm lynn berry. there is a renewed sense urgency in washington as house members returned to town today with just 21 days left to avert that so-called fiscal cliff, and if the framework for an agreement isn't reached by the end of the week, lawmakers could be spending christmas in d.c. tracie potts has those good morning. >>> the president sitting down with john boehner, the staff sitting behind closed door, but today republican members come back to capitol hill and boehner may have a problem. >> all these members are going to come back to town, and they're going to want to play a role in these negotiations. >> the house is back today. that means conservative republicans who insist the wealthy keep this year's tax breaks could put the squeeze on their own party. that's the one thing president obama refuses to bend on.
FOX Business
Dec 10, 2012 7:00pm EST
cautiously to see whether washington can work out a deal to avoid the fiscal cliff. stocks rising, well, modestly is a big, strong word for what happened. technology stocks helping the dow up 15 points. the s&p up a fraction, the nasdaq rose nine. trading light. technology stocks strong in the market, and i'm speaking, obviously, comparatively. hewlett-packard setting the tone, leading the sector, not commenting on speculation that carl icahn has been amazing a position in the stock -- amassing a position in the stock. cisco systems -- mcdonald's, also a dow stock rising on news that sales rose 2.5% last month. that stock up just about 1% today. piper jaffray calling apple a $900 stock based on fundamentals. it may be, but it's got a ways to go after today, apple losing $3.43 on the day, $8 above its low of the session and trading slightly higher in after hours. crude oil prices down on the day for a fifth straight session closing at 85.56, the decline in crude also showing up at the pump. the average price of a gallon of gasoline dropping 11 cents, and we're looking at an average
CBS
Dec 11, 2012 4:00am PST
. asian markets were cautious as u.s. leaders agreed to reach a budget deal to avoid the fiscal cliff. tokyo's nikkei gained a fraction while hong kong's hang seng added a quarter percent. >>> this week the federal reserve is expected to announce a new bond-buying program aimed at lowering interest rates. if it works, it might soften the blow if the nation goes over the fiscal cliff. fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those spending increases and tax cuts. >>> a strong sales report from mcdonald's offset wall street's worries about the fiscal cliff negotiations. the dow added 15 points while the nasdaq gained 9 points. >>> hsbc is paying a record $1.9 billion to settle a federal and state money laundering probe. the british bank was under investigation for allegedly transferring billions of dollars on behalf of iran which is under international sanctions. hsbc is also alleged to have laundered money from mexican drug cartels. under the terms of the settlement, the bank will avoid criminal pro
MSNBC
Dec 11, 2012 6:00am PST
want a deal as both sides work behind the scenes to find a way to avoid the so-called fiscal cliff. >>> it's a family affair. the macks are here. they're both leaving congress next year, not on their own terms but not before trying to figure out our fiscal future and even they don't agree on what to do. >>> plus, a major fight over the role of labor and their power. it all unfolds in michigan. is it the new wisconsin? find out what is driving the big change in the state. that's home to one of the most powerful unions out there. the united auto workers. good morning from washington, tuesday, december 11th, 2012. i'm chuck todd. one of those times in washington when the less that is said the better the news may be, that is if you hope lawmakers and the president come to an agreement on a verdict in this so-called fiscal cliff. we know some of you don't want to deal, but the president has no public events today and not many planned for this week. many at the white house and congress believe the less that anyonecome pains publicly the better the chances are at striking some sort of fra
FOX Business
Dec 10, 2012 10:00pm EST
, our stiny as a nation. becae this is a big deal, and we're taing about a fiscal cliff and great drama. if we stay on the same spending path, i thought i'd show you what happens if we change it to the boehner plan, the obama plan. let's start out with the do-nothing plan, because that's the plan we've got right now. the congressional budget office estimates our fiscal year 2013 deficit will be, well, $104 illion for fiscal 2013, okay? and here's what happens t our national debt as a result of thisaseline. it's going tt surge from $16.3 trillion to $17.5 trillion at 2013, then weet out here to about 2014, it's going to be, well, it's going to be about 19.4. 20.3rillion, 20.3 trillion if we do nothing in 26: and by 2022, out here, it's going to be $25.8 trillion. that's if we do nothing about this spending, this runaway spending, this irresponsible government. now let's take a look at what happens if president obama gets tough, and he getst done. e president calling for $1.6 trillion in higher taxes. he wants $82 billion a year from that top 2%. by the way, that's the same amount o
CNN
Dec 11, 2012 1:00pm PST
closed doors and negotiate the terms of the fiscal cliff deal in public. let's listen. >> i get nervous when two people disappear into a white house room and start making a grand alliance and they think, we're going to do this and get it out of the secret meetings and into the public venues to the american people and the congress themselves, we're responsible for making intelligent decisions. that should be done publicly. but at some point, after public debate and so forth, yes, private negotiations can help bridge the gap and bring us to a successful conclusion. >> mary, what do you think? will that be a kiss of death? >> i don't think there's time, wolf, the president has been dragging its feet. we have a few numbers of days left before we go off the fiscal cliff and taxes are raised for everybody. so speaker boehner knows a caucus, a serious, mature sober leader. he knows what his principles are. he's a principled conservative, a mainstream businessman and knows what the issues are. the house should and is largely trusting him. >> and what do you think about that, hilary? should the
FOX Business
Dec 11, 2012 1:00pm EST
would be aimed at easing the blow if a deal on the fiscal cliff is not reached by year's end. >>> a temporary retraining order and injunction against transcanada took effect today. it stepped construction of a pipeline from canada to the gulf coast. a texas judge issued the order after a private landowner claimed he was defrauded by the company. >>> and stubhub has struck out with several major league baseball clubs. the new york yankees, chicago cubs and l.a. angels of anaheim apparently had enough of their ticket selling less than face value on the website. mlb extended the partnership with stubhub through the year 2017. that is the latest from the fox business network, giving you the power to prosper. melissa: speaker boehner taking the house floor with just 20 days left until we fall off the fiscal cliff. lori: what is so funny about that? melissa: i don't know the image of us diving over the cliff. he says it is time for president obama to get serious. rich edson --. lori: sorry to interrupt. melissa: he has the latest. rich. >> that image is getting closer and closer to reable
CNBC
Dec 11, 2012 5:00pm EST
to avoid the fiscal cliff, we're not going to go over that. we're not going to see sequester. but the challenge is, is the deal going to be big enough? >> what we're being asked as the republican conference is jump off the cliff alone. if this is going to be a deal, we got to grab hands together and jump off together. >> i will tell you, discretionary spending is $1 trillion. our deficit was 1$1.2 trillion. we're 18 billion short of nothing. >> take something like simpso simpson/bowles that came out originally. that is the first step to get the issue resolved. i have never seen anything like this. >> there you have it. sort of a string of comments from lawmakers, from former fed chairman alan greenspan and many in between, talking about what exactly needs to be done, guys, and we know there are big numbers out there in terms of the deficits that we face. tax increase, the president's talked about which seems to take up about 95% of our national dialogue, and media dialogue, just a couple of percent of our deficit problem. sooner or later the lawmakers are going to have to get serious, hammer out big numbers. going t
CNBC
Dec 10, 2012 11:00pm EST
easy to do stories. better than expected retailers, in the end when it come to the fiscal cliff, the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what everybody wants. what does matter, believe he, i mean what's going to happen if we do nothing except keep things exactly the way they are now, and just vote to undo the cliff? the rating agencies, they'll downgrade the u.s. debt. but that's it. by the way, we have already proven through nine ways of sunday that the agencies are ridiculous. when our credit rating got downgraded last summer, well, bonds went up in price and down in yield. so why not do nothing? why doesn't the president say we're just going to keep bonds the way they are? and we're not going to cut entitlements because we know if we don't cut taxes, the republicans will go along with their no tax pledge and the markets will go higher and no one will care, for now. but he told us that's not going to happe
FOX Business
Dec 10, 2012 9:00pm EST
annthey have been probably in my lifetime but there is ts looming fiscal cliff. do you ink we will get a deal before the end of the year? >> i have absolute no idea. there is low hanging fruit. strongly both sides not want to see thether 30 some million people as married der it. there could be so low hanging fruit. they coulwe cld get some sort of compromise onhe bush tax cuts, but there is a two-stage process and we are only focused on the first stage representing the deadline just getting some sort of a deal. the extent we get one, there is breath of relief and then we start to look at the details of whatever the deal is in t implications for the economy for the market and corporate earnings and a those things. i think we're not quite at that stage yet. tracy: we have a meeting on wednesday, we will hear results of q4, more stimulus, what do you expect to hear? >> operation twist, the fed selling so of the dated securities to buy longer dated securities to brinlong-term interest rates down pires at the year-end. they want to bring more stimus in the picture, not letting it expi which would in esse
CNN
Dec 11, 2012 9:00am PST
for many of the folks, if no deal is reached over the fiscal cliff. cnn has the details. >> reporter: liz does not call it a fiscal cliff. she could be facing at year's end is a financial free-fall. >> i just don't wish i was in this situation but it is what it is. and i could just do what i can. >> reporter: she lost her job as a new home sales manager last january. annan old laptop with a broken cord, she applies for job after job, keeping track in a notebook. averaging 15 applications a day, at age 54, this is the first time she's ever been on unemployment. she's emptied out her 401(k), savings and the last resort, emergency federal jobless program kept her in her town home giving her $454 a week. december 29th, unless congress and the white house act the money stops. >> we're not trying to live off the system. we're trying to survive. it's not a luxury to be on unemployment. it's a means to keep us going. >> reporter: the fear of the fiscal cliff isn't just cheer in the suburban neighborhood. in the states with the highest unemployment from the west to the north to the south, the
CNN
Dec 11, 2012 6:00am PST
so-called fiscal cliff if washington can't strike a deal. so with the clock ticking and the stakes so high, both the white house and republican leaders are tamping down their fiery rhetoric. listen to president obama's sales pitch for his version of a compromise. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class families, we make some tough spending cuts on things that we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> brianna keilar is at the white house. brianna, are meetings going on outside of the public's view? is that your understanding? >> reporter: well, there are discussions. that is what we're told. as we understand it, obviously, the last meeting between the president and speaker boehner was on sunday. but we're told by both the white house and the speaker's office that discussions are ongoing, so, obviously, they can all pick up the telephone, and that, quote, the lines of communication are open. this is thing we're hearing over and over again. but make to mistake, there a
FOX News
Dec 10, 2012 4:00pm PST
obama believes he can cut a deal with house republicans to keep from all going over the fiscal cliff. the president is refusing to compromise on letting tax cuts expire on incomes of more than $250,000 a year. g.o.p. leaders are calling that a job killer and a deal breaker. of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the election, but are they talking about it? no. today an aide said the speaker is willing and still waiting for counteroffer from the president. ed henry is live at the white house. i don't know, ed. a meeting happens and nobody says anything. this could be seen as something more good than bad. >> reporter: exactly. because they didn't come out of the meeting beating each other up and saying i'm never going to sign a deal with the other guy. the fact that they're keeping this quiet, hush hush for now in terms of the details of what they discussed suggests that they're hopeful of a deal, although i have to tell you. the president sounded pretty optimistic when he was in michigan about the possibility of us going off the
CNBC
Dec 11, 2012 4:00am EST
westgate. >> progress is reportedly being made in an attempt to miss the fiscal cliff. >>> and words between sylvia berlusconi and mario monti is increasing. >>> and hsbc paying a record $1.9 billion fine. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> right. if you've just joined us, welcome to the trading day. we have had the latest snapshot of german sentiment. they measured sentiment at 6.9 points. better than november. the polls were minus 12. the current conditions index, 5.7, a particular up from 5.344 in november. and the indicator in pore territory for the first time since may 2012. also follows something similar with the latest ifo number. euro/dollar coming up to the best levels of the day, hit 11.2880 during the session on monday. that is where we stand with that data. good news for the eurozone. kelly, how is it looking? >> it's more of a reaction in the ur % the dow is poised at about 44 points in the open. 13-11 is the level there. over here, the s&p 500 is adding about four points, similar magnitude, 1422 is the nu
CSPAN
Dec 11, 2012 1:00am EST
think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we have reached a crisis point in our country there's been an institutional response to it. we created a central bank. that has proved to be enormous for the past five years and important for years before that. post-world war ii, we create a system and the department of homeland security. i wonder if there's not an institutional -- >> some did not work as well as others. >> that is exactly right. it reflects our values and the focus of the government. we should have a department of homeland prosperity. we need somebody other than the president to think about american competitiveness. something we've taken for gra
FOX News
Dec 11, 2012 3:00am PST
so hard to fire these people. 92 indeed. talking about the pesky fiscal cliff loomming in the end of the year. you know, the way washington works. you got to write bills and get people on board. if that is true and if they want to have a deal by january wobst as you look at a live picture where no one is working in that building. they would have to come up with a deal sometime this week by this weekend. it is interesting according to usa today apparently both sides are talk not releasing detailings. mr. boehner wants to know what spending cuts the president is talking about . the president wants to know what kind much tax hike the republicans go on. >> gretchen: it feels like dejavu. ground hog dog. last year it the debt ceiling orificical cliff. it was the debt ceiling. >> steve: first fiscal cliff of our lifetime. >> gretchen: it feels like it has been here a longg time and they were talking about the importance of the day to get the bill actually through. i feel like they can jump through hoops and get past that, too. >> eric: had it has to originate in the house and sent over marked up to the senate and point being there is a lot of hoop to jump through. you know. rudy guiliani is on hannity last night. he was approached
CSPAN
Dec 11, 2012 1:00pm EST
getting over the fiscal cliff the deal, getting closer to balancing the budget, which i think is still very important in the mindset of businesses and this government, that we learn to do that. but i do hope because of all the discussion that tax reform is something that is taken seriously for this year. i think it's well overdue. it's been posited as something that should be done now. it's obviously doesn't have time to do it before december 31. i think that there's a real opportunity to make a lot of the changes that we have talked with through -- about through tax reform. and it will give businesses a lot of the assurances they need that the government is paying attention. >> you should tell barack obama to find a jim baker, then. >> i have an idea for you. which is, this is -- if you think about each time we reached a crisis point of enormous proportions in our country, there's been an institutional response toe it. we had a number financial crises through the late 1800's early 1900's, we create add central bank. and that has proved to be enormously valuable in this past -- for the
Current
Dec 11, 2012 3:00am PST
the capital. sounds like he will get a deal with the fiscal cliff. that he can go to his base and say here's what i got you. so it sounds like he's going to come out of this latest negotiation strong and so he's going to be able to use that, as you say, use that capital. use that clout to try to get something done and it's very encouraging. you have lindsey graham from south carolina who now probably isn't going to face a primary challenge. because of the demint seat now. working with senator schumer from new york, trying to work this out so if there's any positive repercussions from the demint thing is the fact that lindsey graham might now be more likely to work with schumer graham one of the leaders on this issue and work with the democrats in general to try to get something done. it failed -- the talks failed in 2011. this is another shot. >> bill: well, you know, it is -- it is time for this issue. way pastime. way pastime for this issue. >> use the presidential bully pulpit to get this done. the question is what exactly is the tactic? is he going to send a bill to congress?
FOX News
Dec 11, 2012 1:00pm PST
and hurts republicans? >>guest: i don't want to go off the fiscal cliff which congress created in a bipartisan way. this fiscal cliff is the direct result of the last fiscal cliff when we had the debt limit showdown. >>neil: both sides agreed. >>guest: i voted again i. why create the artificial crisis as a way to force action? it never works. >>neil: bethis. they did. >>guest: and now they are going to do it again. they are saying, now, hurt growth in america, cut a deal that hurts growth in america so in a year from now we will have a worst fiscal cliff and that is the real fiscal cliff $16 trillion debt which the tax you have 200,000 less jobsve next year and the people voting for that will be responsible and held accountable for the public policy. >>neil: you have been talking about freeing out to the middle-class. for and reason in the last election republicans lost the middle class. they seemed to get stereotypes as the party that appeals only to the well-to-do. what i am asking you, how do you change that? the perception sticks in the eyes of some. >>guest: first of all, we ne
CNBC
Dec 11, 2012 6:00pm EST
fiscal cliff. i went down to the capitol this morning to see how things are progressing. i got more negative when harry reid said it is unlikely that a deal will be done by christmas. i'm thrilled to have senator john hovan, a republican from north dakota who has been an advocate here with us tonight. welcome back to "mad money." >> jim, good to be with you. >> i noticed that you are for a bipartisan situation and one of the things that tells me that you are for real is that you have not signed a pledge that would make it so that you cannot vote for a tax increase. it should be a big deal on the order of four trillion dollar over ten years. get growth in our economy and the kind of deal that inincludes tax reform and better spending control. >> when you were governor of your state you previded over what i think is the single greatest employment boom. is washington so different that you wish you were back home? >> you have been out to north dakota, but you are right. the fundamentals don't change. certainty we can put those things in place with a big deal. we need to get it done. >> one of the things i was noticing. this is something fellow sen
CSPAN
Dec 11, 2012 5:00pm EST
speaker boehner and others are dealing with the fiscal issue. we call is the fiscal cliff here. and i think all of us know what we really need to do to deal with the fiscal cliff is to have a true fiscal reform package that i hope would be in the range of $4 trillion, $4.5 trillion, so we can put this issue behind us and really begin this next year with it in the rear-view mirror and our economy taking off because we've shown the world that we've actually dealt with these issues and people in our country would have the confidence to invest -- to invest here in our country because they know we in washington have been responsible in that way. one of the big discussions that's taking place right now is revenues, and, really, i think at the end of the day, we're going to come to a conclusion very soon that it's probably time for us to go ahead and rescue the 98% of the country that's been caught up in all of this. and my sense is we're going to have some resolution to that in the -- in the very near future. what i have found is, and one of the reasons that we don't have a solution, is that people on both sides of the aisle are focused over here on
CSPAN
Dec 11, 2012 5:00pm EST
campaign trail. you got every day we're a little closer to the fiscal cliff. every day republicans are here, speaker boehner is here, leader mcconnel is here, lead ready to negotiate, ready to deal, ready to do something that will avoid what everybody agrees would be a disaster and yet the president seems to be content with just traveling around the country doing a victory lap or something at the very time he ought to be here in washington, d.c. sitting down across tremendous table -- across the table from the people who can help us avoid what would be a very, very bad situation for our country economically. it's about jobs and the economy, mr. president. you said it, ewe agree with that, now let's get to work and try to fix it. >> for people who spent a lifetime spilleding a small business in a community, and small communities around the country have a dry cleaner a florist, a car wash, those small businesses will be impacted by the change in the death tax that occurs on january 1. many will not be able to continue to hold that business in the family if they have to pay 55% of every -- of everything in value over $1 million. surrounding so manufacture of these communities around the c
FOX Business
Dec 11, 2012 4:00pm EST
deal will be reached to avert the fiscal cliff. at the closing bell the dow finished up 78 points. >>> lazard is latest in long list of u.s. companies offering special one-time payments or accelerated dividends before scheduled tax hikes next year. the company declared a special dividend of 20 cents a share on outstanding class a common stock payable december 27th. >>> bank of america confirmed its website was the sight site of a cyberattack. bank of america is one of several banks targeted this week that carried out similar cyber attacks in october and associated with islamic terrorists. other banks were jpmorgan chase, pc this bancorp, and suntrust banks. that is the latest from the fox business network, giving you the power to prosper. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day advair won
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